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_I BOOK 97 PAU 61"J '67' Margaret Ingram commented that at that point the elected Board of Trustees would enter into renegotiation. If the public doesn't like what is going on, and the Trustees understand that, then the 7 Trustees are the ones who will make the decision whether the lease would be renewed. Attorney Polackwich agreed that if we ever reached that point, the Trustees would have a duty to renegotiate in good faith. Assistant County Attorney Terry O'Brien felt it raises an issue that it certainly could be litigated if, for instance, there was 5 years left on the 25 -year contract and an improvement was constructed with a 30 -year life on a 30-40 year mortgage. He .felt you would be duty bound to extend that for a period of time to cover that major alteration or addition. Attorney Polackwich explained that they have faced that question each time they have done bonds because they have bonds that extend out beyond the year 2010 when the lease expires. The way they have resolved that internally with the bond interest is to use the year 2010. Mr. Montuoro emphasized that no addition or improvement would be put up without the approval of the Hospital District Board of Trustees because they back all the bonds that are issued to pay these off. No addition is financed through a mortgage. An improvement is paid through an industrial revenue bond issued by the hospital. Attorney O'Brien suggested the language be changed to read "if the lessee determines to finance the addition with the approval of the Board of Trustees ..." Commissioner Macht felt that goes to the heart of why he felt we should revisit the contract. It appears that the Board of Trustees is moving forward in the renegotiations of the contract. He asked if that is an accurate statement, and Mr. Montuoro answered that it is. He believed they are making progress, but pointed out that these negotiations will be going on for some period of time because it is a complex issue. A liaison committee, composed of 3 Trustees and 3 Board of Directors, meets Monday nights to discuss situations, problems and issues that are pertinent to both boards. Commissioner Eggert asked for a review of the differences between the Indian River Hospital District Board of Trustees and the Indian River Memorial Hospital, Inc. Board of Directors. Mr. Montuoro explained that the Hospital Taxing District Board of Trustees consists of 7 elected (unpaid) officials who serve 4 - year terms. The terms are staggered with 4 trustees going out one year and 3 the next year. The Trustees take care of the indigent 4 MARCH 21, 1996